Mutual Advisors LLC Sells 7,534 Shares of W. P. Carey Inc. (NYSE:WPC)

Mutual Advisors LLC decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 28.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,893 shares of the real estate investment trust’s stock after selling 7,534 shares during the quarter. Mutual Advisors LLC’s holdings in W. P. Carey were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP raised its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the period. Maia Wealth LLC purchased a new stake in W. P. Carey in the 3rd quarter worth $40,000. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 616 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Barclays reiterated an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. UBS Group cut their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Scotiabank decreased their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.43.

W. P. Carey Stock Performance

W. P. Carey stock opened at $55.24 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.81. The company’s 50-day moving average price is $55.53 and its 200-day moving average price is $57.85. The company has a market cap of $12.09 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.49 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.37%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.